TelstraSuper has been supporting members’ retirement outcomes for more than three decades. 

As the superannuation industry continues to evolve, the TelstraSuper Trustee Board has decided that merging with the right partner is the best way to serve members in the long run. Following a comprehensive review of the options available, the Board has determined that TelstraSuper will merge with Aware Super. 

By joining Aware Super, TelstraSuper members will benefit from being part of a much larger fund, which provides the potential for better products and services, lower fees and access to more investment opportunities. 

Importantly, both TelstraSuper and Aware Super have many shared values, including a strong focus on long-term performance, member engagement, personalised service, guidance and financial advice.  

Once the merger is complete, TelstraSuper members will become members of Aware Super, resulting in a combined fund that is expected to manage around $237 billion for around 1.3 million Australians.^[M7]  

Aware Super is one of Australia's largest profit-for-member superannuation funds with $208 billion in funds under management* and around 1.2 million members*. Aware Super strives to deliver strong long-term returns for its members and the help, guidance and advice they need to prepare for and enjoy their best possible retirement.

Aware Super started as First State Super in 1992, looking after the retirement savings of NSW government employees. This gave them a deep appreciation of the importance of frontline workers like nurses, teachers and police, as well as an understanding of their retirement needs. Over the years, they’ve successfully brought together members from different funds through mergers: Health Super in 2011, VicSuper in 2020, followed by WA Super later that year.

You can visit Aware Super - Australian Superannuation Fund for detailed information about Aware Super’s products and services, investment performance, updates, and member resources.

*Aware Super, 31 December 2025.

The merger is set to take effect from 30 April 2026, when your super will be automatically transferred to Aware super, at which point you’ll become a member of Aware Super.  

However, from 17 April 2026 until 11 May 2026 a phased limited service period will apply, and some services and transactions will be temporarily unavailable. (See further details on the limited service period below).

From 11 May 2026, you will start to have access to Aware Super’s broader range of services.

Aware Super has a head office in Sydney. However, their wide national footprint means they offer walk-in offices in Melbourne, Perth, Parramatta, Gosford, Sydney CBD and Wollongong.

Members can also visit additional offices by appointment including in Ballarat, Wagga Wagga, Orange, Geelong, Frankston, Tamworth, Canberra, Armidale, Penrith, Mittagong, Maitland, Gymea, Brisbane, Nowra, Newcastle, Taree, Forster, Coffs Harbour, Port Macquarie, and Kingscliff.

By joining Aware Super, TelstraSuper members will benefit from being part of a much larger fund, which provides the potential for better products and services, lower fees and access to more investment opportunities. 

Importantly, both TelstraSuper and Aware Super have many shared values, including a strong focus on long-term performance, member engagement, personalised service, guidance and financial advice.

Aware Super is a highly regarded, award-winning fund, having won SuperRatings Fund of the Year in 2024 and 2025^[A5] and Chant West’s Pension Fund of the Year 2024 and 2025^[A6].

It is one of Australia’s largest profit-for-member funds, where profits are reinvested for members’ benefit. Aware Super also has significant experience in managing defined benefit arrangements and complex fund designs, so is well placed to support our membership.

 Visit aware.com.au/awards for more information.

Aware Super won SuperRatings Fund of the Year in 2024 and 2025^[A5] and Chant West's Pension Fund of the Year, also in 2024 and 2025^[A6]. 

You can visit  awaresuper.com.au for detailed information about Aware Super’s investment performance. 

Aware Super is a profit-for-member super fund, similar to TelstraSuper. Aware Super is led by a Board of Directors and an executive team. Christine McLoughlin is the Chair of the Board, and Deanne Stewart is the CEO. Like TelstraSuper, the Board includes equal representation from member and employer representatives, plus an independent Chair.

Aware Super started as First State Super in 1992, looking after NSW government employees, giving them a deep appreciation for and understanding of frontline workers like nurses, teachers, police and first-line responders. In 2006, it opened up membership so anyone could join. Over the years, Aware Super has successfully brought together members from different funds through mergers: Health Super in 2011 then in 2020 VicSuper, followed by WA Super later that year.

After merging with TelstraSuper, the Aware Super Board will add two new directors: one nominated by the ACTU and one by the Telstra Group. Aware Super is not a part of the industry super network advertising campaign. You can find out more about the origin of Aware Super at Who is Aware Super?

Where an employee does not have an existing superannuation fund or does not choose an alternate super fund, Aware Super will become the default super fund for new Telstra Group employees and associated employers.

Aware Super is led by a Board of Directors and an executive team. Christine McLoughlin is the Chair of the Board, and Deanne Stewart is the CEO. 

The Board includes equal representation from member and employer representatives, plus an independent Chair. After merging with TelstraSuper, the Aware Super Board will add two new directors: one nominated by the ACTU and one by the Telstra Group.

For the merger to go ahead it has to pass a strict test to ensure that it’s in members’ best financial interests as a whole, and that TelstraSuper members’ rights in respect of their benefits are equivalent (or better) in Aware Super.

After considering all relevant factors, including independent expert advice, the TelstraSuper Board has determined that members will, as a whole, have equivalent or better rights in respect of their benefits in Aware Super, and that the merger is in members best financial interests as a whole.

The merger will occur via a Successor Fund Transfer (SFT) which automatically transfers members of one fund to another fund. In this case, TelstraSuper members will be automatically transferred to Aware Super. This will occur on 30 April 2026, at which point you'll be a member of Aware Super. 

Once the merger is complete, TelstraSuper members will be transferred across to Aware Super and become members of Aware Super. Telstra Super Pty Ltd will no longer exist in its capacity as trustee of the TelstraSuper Fund.       

You have been sent a Significant Event Notice (SEN) outlining what this change means for you as well as key details about the transfer, the limited service period, and any actions you may need to take. You can find a copy of the SEN in your SuperOnline mailbox - please take time to review this important information carefully. You can also access a copy of the Significant Event Notice and tailored frequently asked questions via the links below. If you aren’t sure which group you fit into you can check your SEN in SuperOnline or contact us on 1300 033 166.

No. Your defined benefit will not change as part of the merger. Your TelstraSuper Defined Benefit Division 2 benefit will be transferred to Aware Super Defined Benefit – Telstra Plan.

You don’t need to take action for your defined benefit and Voluntary Accumulation Account (VAA) account to be transferred to Aware Super – this will happen automatically on 30 April 2026.

However, we recommend that you review the Significant Event Notice outlining what this change means for you as well as key details about the transfer, the limited service period, and any actions you need to take. You can also find a copy of the Significant Event Notice in your SuperOnline mailbox. This may have also been provided to you as a physical letter, depending on your communication preference. This notice also outlines important things you might want to consider before the merger, along with important information about changes to your fees, insurance and investments.

Please note, if you need to update your contact details with TelstraSuper, you must do this prior to 28 April 2026.

No. You don’t need to do anything as TelstraSuper and Aware Super will work directly with the Telstra Group to ensure their records are updated.

If you leave your employer before the merger is completed, TelstraSuper will transfer your defined benefit component and VAA into an accumulation account and invest the defined benefit component in the Cash investment option. The defined benefit component is automatically transferred from the Cash investment option to your VAA future contribution strategy (if applicable) or the relevant MySuper Lifecycle option for your age after 90 days, if you don’t make an investment choice.

If you wish to rollover to another fund, your request will need to be received by 24 April 2026, otherwise your account will be automatically transferred to Aware Super on 30 April 2026.

You will be able to access SuperOnline and the TelstraSuper app up until 5.30pm on 30 April 2026.  

From 17 April 2026 to 11 May 2026 a phased limited service period will apply, and some services and transactions will be unavailable. Please refer to the limited service period information provided in your Significant Event Notice, as well as on the Merger Hub for full details and timing.

From 5:30pm on 28 April 2026 at close of business, there will be 'Read only' access to TelstraSuper's SuperOnline and App, and access will cease at close of business on 30 April 2026.

Access to Aware Super's Member Online portal (similar to SuperOnline) and App begins from 11 May 2026.

Only transactions and statements from the last five years of your active accounts will be visible to you in Aware Super’s Member Online. If you wish to have copies of your TelstraSuper statements and transactions beyond the last five years or for your closed accounts (if applicable), you must download or print them before 30 April 2026. We encourage you to download a copy of your TelstraSuper statements and transactions via SuperOnline before this date.

No. If you have provided your TFN to TelstraSuper, this will carry over to Aware Super.

Most members will keep their existing membership and account numbers when their account(s) are transferred to Aware Super.

Please note, if your member number is already in use by Aware Super, you’ll be assigned a new member number. If you are affected by this change you will be advised in a separate communication and it will also be confirmed in your welcome letter from Aware Super. Otherwise, your Aware Super account number will be the same as your TelstraSuper account number without any spaces. You can find this number on the cover letter to your Significant Event Notice. You can also find your existing member number on your TelstraSuper super statements or by contacting us on 1300 033 166.

Your member number is the number we use to identify you. Your account number is the number your employer uses to pay your super contributions. If you have more than one TelstraSuper account, you will have multiple account numbers but only one member number.

A Data Migration Strategy is supporting the merger that includes several rounds of testing, extensive reconciliation and auditing across the balances being transferred to ensure their accuracy.

Once the transfer is complete, you will receive an exit statement from TelstraSuper and a welcome letter from Aware Super. These letters will contain the amount that TelstraSuper has transferred across to Aware Super.

Your TelstraSuper balance on exit will be exactly the same as your Aware Super opening balance.

We are committed to protecting your privacy and the security of your personal information. You can access our Privacy Policy at telstrasuper.com.au/privacy.

 As part of the merger, the information we hold about you will be transferred to Aware Super which will include security questions and answers. Any of your information that is transferred before 30 April 2026 will be handled in accordance with our Privacy Policy. On transfer, Aware Super’s Privacy Policy will apply and will describe how your personal information will be managed from that date. You can access the Aware Super Privacy Policy at aware.com.au/privacy.

In late May 2026 you will receive an exit letter/statement from TelstraSuper, which will show your TelstraSuper account and final account balance (which was transferred to Aware Super).

After 11 May 2026, Aware Super will send you a welcome letter via your communication preference that was recorded with TelstraSuper prior to the merger. The welcome letter will include a summary of your Aware Super account, information about online access and services available to you, as well as any other relevant terms of your membership.

TelstraSuper members can access comprehensive advice through Aware Super under a referral agreement. General advice, factual information and support will continue to be provided by TelstraSuper until the merger is complete. Once the merger is complete, general advice, factual information and support will be provided by Aware Super.

You’ll need to inform your employer that you want to make a full withdrawal or rollover to another fund and request your employer to notify the TelstraSuper. We will then move you to a Personal Plus account. You can then make a full withdrawal (if eligible) or transfer your money into another super fund and notify your employer of your chosen fund’s details. If you withdraw or transfer your defined benefit, any additional employer contributions you receive to cover the cost of insurance and/or administration fees and your formula based defined benefit components will cease and cannot be reinstated. We suggest you consult a financial adviser prior to any decision. Your request will need to be received by 24 April 2026 otherwise your account will be transferred to Aware Super.

If you are changing employer before the merger is completed, you’ll need to inform your new employer of the change and advise them to submit your contribution on or after 11 May 2026 to ensure your super contributions continue without interruption.

Details to provide to your employer to ensure any contributions from your employer - such as super guarantee (SG) and voluntary contributions (if applicable) - are paid into your new Aware Super account after the merger are as follows:

• Aware Super’s USI: 53 226 460 365 001
• Aware Super’s ABN: 53 226 460 365
• Your Account Number: Your Aware Super account number will be the same as your TelstraSuper account number. You can find this number on the cover letter to your Significant Event Notice. Please ensure you provide the account number without any spaces.

Important: If your employer pays a contribution to Aware Super between 30 April and 10 May, it will be redirected to your employer because your account won’t exist yet.

However, you must update your employer’s payroll details to Aware Super on or after 11 May 2026 to ensure your super contributions continue without interruption.

It is also important to note that any employer contributions received by TelstraSuper after 28 April 2026 will be redirected back to your employer.

A limited service period is a short time when some services and transactions will be limited or unavailable.

It usually happens during big system changes, like a fund merger, so the fund can safely update and transfer information. Your money stays invested, but certain actions - like switching options or making changes - will be paused until the work is finished.

To support the merger, a phased-in limited service period will run between 17 April 2026 to 11 May 2026. This period is necessary to transfer member account details, data, and administration services to Aware Super.

The table below lists the key cut-off dates for certain services and transactions that will be temporarily unavailable during the limited service period from 17 April to 11 May 2026. 
  

Please note, if we receive your requests before the cut-off dates listed, we’ll endeavour to process them. If you’re sending your form by post, please make sure you allow enough time for it to reach TelstraSuper before the cut-off date. Due to expected high volumes of work requests during this period, processing times may be slower than usual.

Any request received by TelstraSuper before the relevant cut-off time which does not include all the required information to complete the processing of such requests, will likely not be processed. We’ll notify you if your application is incomplete or cannot be processed. If your request is rejected for any reason, you’ll need to recommence the process from the start with Aware Super.

Where your requests are forwarded to Aware Super, you may be contacted and asked to resubmit your request using the required Aware Super form or process.

Requests received after the cut‑off dates generally will not be processed. If this happens, Aware Super will contact you and ask you to resubmit your request using the required Aware Super form or process.

From 11 May 2026, Aware Super will start processing all forms, including insurance applications and claims, submitted to Aware Super from 1 May 2026.

Additionally, from 29 April 2026 close of business, there will be ‘Read only’ access to TelstraSuper’s SuperOnline and App.

From 30 April 2026, the last day of TelstraSuper membership, TelstraSuper phone lines, online services and other member services will cease at 6pm (AEST). This includes the “read only” SuperOnline and App access.

From 24 April 2026 you won’t be able to contribute to your or your spouse’s TelstraSuper account via any method. If you wish to contribute after this date you will need to do so to Aware Super after 11 May 2026.

As with personal contributions, employer contributions – including any contributions made through salary sacrifice arrangements - will be accepted and applied to your account after the limited service period, effective the date Aware Super processes the contribution. 

Yes. Although the limited service period begins on 17 April 2026 for some TelstraSuper services or transactions, you can still make investment switches up until 4pm on 24 April 2026. After this time, investment switches will be unavailable until 11 May 2026.

You can update your investment option(s) with Aware Super from 11 May 2026 and choose from their range of investment options. Aware Super has a wider range of investment options for you to choose from including Indexed and Socially Conscious options. 

Up until 6pm AEST on 30 April 2026 TelstraSuper’s member servicing teams will be available to support you if you have any questions about the limited service period or need help with a request or service. Across the limited service period you can continue contact TelstraSuper on 1300 033 166 or via live chat through your SuperOnline account.

Between 1 May 2026 to 10 May 2026 you can call Aware Super on 1300 650 873 for general information only between 8am to 8pm (AEST) on weekdays. During this time, Aware Super will have read only access to your account and you won’t be able to make changes.

From 11 May 2026, when the limited service period ends, the Aware Super contact centre will start to have access to your new account to help answer any questions you may have. You can call them on 1300 650 873 between 8am to 8pm (AEST) on weekdays.  For information and support on transitioning to Aware Super, members can also visit aware.com.au/mergerfaqs.

If you’d like to release money from your Telstra Super account to pay a Division 293 tax liability, this request needs to be received by us from the ATO before 24 April 2026. We suggest you factor this date into any request you make to the ATO to release funds.

If you hold a Division 293 deferred debt account liability with TelstraSuper, this will be transferred across to Aware Super.

If you’d like to claim a tax deduction or vary a tax deduction for personal super contributions made to your VAA for the 2025/2026 financial year or for the previous financial year (2024/25), please submit your request to TelstraSuper by 24 April 2026. After the merger, members will need to make these requests directly to Aware Super, which will process the request for the relevant financial year in which the contribution was made.

If you’d like to transfer or ‘split’ some of the eligible contributions made to your VAA account or to your spouse’s account, you’ll need to do so before 24 April 2026. After the merger, because your account will be in a different fund, only new contributions that are received from 1 May 2026 will legally be able to be transferred or split. Aware Super will not be able to transfer or ‘split’ contributions that were made while you were a member of TelstraSuper.

From 24 April 2026 you won’t be able to contribute to your or your spouse’s TelstraSuper account via any method. If you wish to contribute after this date you will need to do so to Aware Super after 11 May 2026. Your BPAY details will change. If you have a recurring BPAY set up with your bank, please cancel it before 24 April 2026. If the arrangement isn’t cancelled, your next payment will fail and not be sent.

Your account will transfer from TelstraSuper Defined Benefit Division 2 benefit to the Aware Super Defined Benefit – Telstra Plan.

A Product Disclosure Statement (PDS) about your new product will be included with your welcome letter from Aware Super in May 2026. You can also download the PDS and Guide via aware.com.au/pds from April 30 2026.

If you leave your Telstra Group employer after the merger, your benefit will generally be transferred to Aware Super Future Saver Employer Sponsored and Personal.

Your account will transfer from a TelstraSuper Division 2 Voluntary Accumulation Account to an Aware Super Defined Benefit – Telstra Plan Voluntary Accumulation Account.

With Aware Super you will still have the option of having a voluntary accumulation account where you can access a broad range of investment options suitable for the conservative through to the aggressive investor.

After the merger, there will be some changes to fees and costs. Most TelstraSuper members will benefit from lower fees and costs with Aware Super. Aware Super will begin charging fees and costs from 1 May 2026.

Important: TelstraSuper defined benefit administration fee of $52 per year is charged at the member level and calculated and deducted quarterly. This fee is paid for by your employer. Aware Super’s defined benefit account administration fee of $52 per year (called an account keeping fee at Aware Super) will calculated be daily and deducted monthly for each defined benefit account. This is currently paid for by your employer and is expected to continue to be paid by them after the transfer.

The fees and costs charged to your VAA by Aware Super are likely to be lower than TelstraSuper. However, if you have multiple accounts with TelstraSuper (i.e. you hold a TelstraSuper accumulation account that is not part of your defined benefit), you may end up paying more in administration fees. This is because Aware Super charges a $52 per year administration fee (known as an account keeping fee) per account (rather than per member). Fee caps also apply at the account level in Aware Super. This administration fee is not payable on your VAA, but it will be payable on any other accounts you hold with Aware Super.

You can view a direct comparison between TelstraSuper’s current fees and costs for your VAA with those of Aware Super’s VAA in Table 1 – Fees and costs summary comparison in your Significant Event Notice.

For more information about TelstraSuper’s fees and costs, refer to the TelstraSuper Defined Benefit Division 2 Guide available at telstrasuper.com.au/pds

For more information about Aware Super’s fees and costs, including fees and costs not listed above, read the Aware Super Defined Benefit – Telstra Plan PDS and Guide available at aware.com.au/pds from 30 April 2026.

If you leave your Telstra Group employer after the transfer, Aware Super will move your defined benefit to its accumulation product known as the Aware Super Future Saver Employer Sponsored and Personal and invest the defined benefit component in the Cash investment option until you make an active investment choice.

If you do not have a VAA, then any future contributions will be applied to the relevant MySuper Lifecycle investment option for your age until you make an active investment choice.

If you have a VAA, your VAA funds will continue to be invested in the same investment options in Aware Super Future Saver as previously chosen. Future contributions will be applied in Aware Super Future Saver according to your VAA future contribution strategy.

If you have a VAA, and you haven’t made an active investment choice, your VAA funds and future contribution strategy will be applied to the relevant MySuper Lifecycle investment option for your age, until you make an active investment choice.

You can make an investment election to opt out of the Cash investment option in Aware Super at any time in relation to the transferred defined benefit component and when you make this election, you also have the option to change how your future contributions will be invested.

No. Your retirement, redundancy and leaving service benefits will be calculated in the same way at Aware Super as they are at TelstraSuper.

Benefit calculations will still be determined by a formula considering the Final Average Salary (FAS) over the last three years, length of service, and accumulated contribution multiples.

The accrual rate will remain the same. Your FAS will be calculated in the same way at Aware Super as it is at TelstraSuper.

With Aware Super you will still be able to choose to contribute 0% to 10% of salary.

No. Telstra will remain the sponsor of your defined benefit plan. Telstra’s contribution and support towards your defined benefit plan will remain the same.

The spouse combined account administration fee rebate will no longer apply. However, reduced individual account fee caps will apply. You can view a comparison between TelstraSuper’s fees and costs with those of Aware Super in Table 1 - Fees and costs summary comparison in your Significant Event Notice.

Your digital credentials (member number and/or username and password) will be securely migrated to Aware Super. You can use either your member number or username to login to Aware Super’s digital platform, Member Online, from 11 May 2026. If a username is already in use by Aware Super, you will need to create a new username.

If you receive a new member number and do not currently have a username, you may need to register for online access from 11 May 2026. Instructions for this will be provided in your Aware Super welcome letter.

You can check your employer contributions by using your member number or user name to login to Aware Super’s digital platform Member Online from 11 May 2026. Employer contributions will be accepted and applied to your Aware Super account after the limited service period, effective the date Aware Super processes the contribution.

You can update your personal and contact details with TelstraSuper before 28 April 2026. Your personal and contact details will be securely and automatically transferred to Aware Super on 1 May 2026 as part of the merger.

You’ll be able to make updates to your personal details once the limited service period ends on 11 May 2026 when you access to Aware Super’s Member Online portal. Aware Super will begin to process transactions from 11 May 2026.

If you have both an Aware Super account and a TelstraSuper account, you will end up with at least two Aware Super accounts after the merger. Having multiple Aware Super accounts may incur higher fees overall. Members can request for these accounts to be consolidated with Aware Super after the merger. There may be some implications to consolidation, including to any insurance arrangements, so it’s important to speak to a qualified financial adviser before making any decisions. You can also speak to Aware Super if you have any questions about their products. 

To find out more about the impacts to your insurance by consolidating you can refer to the relevant PDS and handbook for your product which will be available at aware.com.au/pds from 30 April 2026.

Only transactions and statements from the last five years of your active accounts will be visible to you in Aware Super’s Member Online. If you wish to have copies of your TelstraSuper statements and transactions beyond the last five years or for your closed accounts (if applicable), you must download or print them before 30 April 2026. We encourage you to download a copy of your TelstraSuper statements and transactions via SuperOnline before this date.  

If you have a death benefit beneficiary nomination, it will transfer to Aware Super and apply to each of your accounts.

If you have a non-binding death benefit nomination, you won’t be able to make changes to it after the transfer to Aware Super as Aware Super doesn’t accept new or updates to existing non-binding death benefit nominations. Instead, you can make a lapsing or non-lapsing binding death benefit nomination.

Aware Super offers members the opportunity to make or update a non-lapsing death benefit binding nomination anytime online.

After the transfer to Aware Super, if you have multiple accounts and want to update beneficiaries, you must make changes for each account individually (because in Aware Super a death benefit nomination attaches to each of your individual accounts rather than to your Aware Super membership).

Existing third party authorities won’t transfer to Aware Super. You’ll need to set up a new third party authority with Aware Super after 11 May 2026.

Like TelstraSuper, Aware Super provides a range of services to help members with their accounts at no extra cost. This includes general financial advice and intra fund advice. Like TelstraSuper this will continue to be included as part of your Aware Super membership. In addition to getting help with understanding your super, and insurance within your account, making contributions, and choosing how to invest, Aware Super can assist with setting up a pension account and estimating how long your pension might last and incorporating Centrelink eligibility estimates, where relevant.

From May 11 2026, Aware Super will start to have access to your new account to help answer any questions you may have. You can call them on 1300 650 873 between 8:00am to 8:00pm (AEST) on weekdays.

You can learn more about Aware Super’s advice and guidance offering here. 

Like TelstraSuper, Aware Super provides annual super statements after the end of each financial year, however they don’t provide an annual Insurance Statement. You will be able to view your insurance from 11 May 2026 and at any time thereafter in Aware Super’s online member platform and Member Online.

We also encourage you to download a copy of your TelstraSuper statements and transactions via SuperOnline before 30 April 2026.

From 24 April 2026, you won’t be able to contribute to your or your spouse’s TelstraSuper account via any method, including BPAY. If you wish to contribute after this date you will need to do so to Aware Super after 11 May 2026.

Your BPAY details will change. If you have a recurring BPAY set up with your bank, please cancel it before 24 April 2026. If the arrangement is not cancelled, your next payment will fail and not be sent.

To set up BPAY contributions with Aware Super after the transfer, log in to Member Online to get your BPAY biller code and your reference number.

Aware Super offers a Retirement Bonus. Defined Benefit members need to transfer their account to an Aware Super Future Saver account for a specified period and meet other eligibility conditions before transferring to an Aware Super Retirement Income account. Some of the eligibility criteria and calculations differ from TelstraSuper’s Retirement Bonus arrangements as follows:

• TelstraSuper currently pay 0.5% capped at $8,000, whereas Aware Super will pay 0.7% capped at $14,000.
• TelstraSuper has no minimum eligibility period, however Aware Super’s is based on the average daily balance over a 6-month period and amount transferred.
• Funds invested in the Cash investment option will not be eligible for the Retirement Bonus post SFT.
• Funds held within a defined benefit or VAA will not be eligible for the Retirement Bonus
• You can find out more about Aware Super’s Retirement Bonus here.

After you become an Aware Super member, if you wish to rollover any super balances into your new Aware Super account after the merger, you must do so after 11 May 2026 using Aware Super’s USI & ABN:

Aware Super’s USI: 53 226 460 365 016

USI Name: Aware Super Defined Benefit - Telstra Plan

Aware Super’s ABN: 53 226 460 365

Your Account Number: Your Aware Super account number will be the same as your TelstraSuper account number. You can find this number on the cover letter of your significant event notice. Please ensure you provide the account number without any spaces.

As part of the merger, there may be changes to your VAA investments.

Aware Super use a lifecycle investment approach as their default offering. If your VAA is invested in TelstraSuper’s default lifecycle investment arrangement on 30 April 2026, this is where your funds will be invested in Aware Super’s default lifecycle investment arrangement when your account transfers to Aware Super. (see FAQ below for more information on Aware Super’s default lifecycle investment arrangement.)

If you have made an investment choice with TelstraSuper, your VAA will be transferred to the investment option(s) that most closely matches how your account balance is invested with TelstraSuper in the same proportions. However, the investment characteristics may differ between these options. You can compare TelstraSuper’s current investment options with those of Aware Super in Table 4 - Investment option comparison in your significant event notice. Note in particular there are some important differences in relation to the Property investment option. These are explained in the Significant Event Notice (see ‘Important information about the Property investment option’).
 

Contributions

If you’ve made an active choice about how you’d like your contributions to be invested in your TelstraSuper account, your future VAA contributions will be invested in the corresponding Aware Super option(s) in accordance with Table 4 - Investment option comparison in your significant event notice.

If you haven’t made a choice about how you’d like your contributions to be invested, your contributions with TelstraSuper have been invested in the default investment approach for the VAA. Following transfer to Aware Super, if you don’t make an investment choice, your contributions will be invested in the Aware Super Lifecycle approach (see FAQ below for more information).

You’ll be able to switch how your funds are invested in Aware Super from 11 May 2026. No investment switches will be processed effective from 4pm on 24 April 2026 to 11 May 2026. Aware Super has a wider range of investment options for you to choose from, including Indexed and Socially Conscious options.

Like TelstraSuper, Aware Super use a lifecycle investment approach as their default offering. If your VAA is invested in the default investment arrangement for your age, this is where your funds will be invested when your account transfers to Aware Super.

Similar to TelstraSuper’s default investment arrangement, Aware Super’s Lifecycle approach invests more of your super in growth assets (such as shares and property) when you’re younger, and gradually shifts your investment mix to more defensive assets (such as cash and fixed interest) as you get older. However, there are some important differences:

• TelstraSuper’s default investment arrangement has 4 stages, while Aware Super’s has 11 stages, allowing for a more gradual transition over time.
• Other than members aged 61 to 64, members moving into the Aware Super Lifecycle approach will hold more growth assets. Growth assets can help grow your balance more in the long term, but tend to rise and fall more in the short term which may result in greater fluctuations in the value of your investment.

You can see how the two default investment approaches compare in Table 3 – Default investment arrangement comparison in your significant event notice.

On transfer to Aware Super’s Lifecycle approach, your VAA balance and future contributions will move to the Lifecycle stage that matches your age. Note that each stage has a different risk level, mix of investments and investment objective. For details, refer to the ‘Default Lifecycle’ section of the Aware Super Defined Benefit – Telstra Plan PDS and Guide available at aware.com.au/pds from 30 April 2026.

You can view a comparison of the investment characteristics of TelstraSuper investment options and corresponding Aware Super investment options in Table 4 - Investment option comparison in your Significant Event Notice.

You can change your investment strategy with Aware Super anytime from May 11 2026, when the limited service period no longer applies. Aware Super has a wider range of investment options for you to choose from including Indexed and Socially Conscious investment options.

To learn more about Aware Super’s investment options, read the read the Aware Super Defined Benefit – Telstra Plan PDS and Guide available at aware.com.au/pds from 30 April 2026.

After the merger, there will be some changes to investment fees and costs.

You can view a direct comparison of the investment fees and costs and transaction costs of TelstraSuper’s VAA investment options with the corresponding Aware Super option in Table 2a – Investment fees and costs and transaction costs comparison (for members who have made an investment choice) and Table 2b – Investment fees and costs and transaction costs comparison (Default investment arrangements) in your Significant Event Notice.

Note: Investment fees and costs and transaction costs are not fixed and may vary from year to year. The amounts shown in the Significant Event Notice are indicative only.

For more information about Aware Super’s fees and costs, including the fees and costs of other Aware Super options not listed above, read the Aware Super Defined Benefit – Telstra Plan PDS and Guide available at aware.com.au/pds from 30 April 2026.

Aware Super’s daily investment switch cut off time is 3pm on a business day (AEST/AEDT). TelstraSuper’s is 4pm on a Melbourne business day.                         

Like TelstraSuper, Aware Super offers a Member Online portal where members can change how their super is invested. You’ll be able to access this from 11 May 2026. 

Although the limited service period begins on 17 April 2026 for some services or transactions, you can still make an investment switch up until 4pm (AEST) on 24 April 2026. After this time, investment switches will be unavailable until 11 May 2026.

Although the balance of your VAA before and after transferring to Aware Super won’t change, the number of units you hold and the relevant unit price will be different. This is because the unit price of the corresponding Aware Super investment options are different.

Aware Super has a similar range of asset classes to TelstraSuper but uses different labels in some instances, for example Aware Super uses ‘Private equity’ instead of ‘Private Markets’, and ‘Credit income’ instead of ‘Alternative Debt’. The below table compares TelstraSuper’s asset classes with the corresponding Aware Super asset classes. Note that Aware Super does not have an equivalent to the ‘Opportunities’ asset class.
 

There are many similarities between TelstraSuper and Aware Super in terms of their approach to sustainable investment. For example, both funds:

• Integrate environmental, social and governance (ESG) considerations into their investment processes (as outlined in their responsible investment policies);
• Implement stewardship programs through voting, corporate engagement and advocacy and are signatories to the Australian Asset Owners Stewardship Code;
• Participate in many of the same major industry initiatives and collaborative organisations; and
• Provide publicly available responsible investment reporting.

In addition, both funds have an exclusion framework and similar investment restrictions. However, there are some important differences:

• Aware Super’s materiality threshold for thermal coal is lower (10% of revenue compared to TelstraSuper’s 25%), so it will exclude more companies;
• Aware Super’s materiality threshold for controversial weapons is lower (no threshold compared to TelstraSuper’s threshold of 5% of revenue), so it will exclude more companies;
• Aware Super’s controversial weapons restriction applies to a broader range of weapons, including depleted uranium, incendiary weapons and white phosphorous weapons; and
• Aware Super has an investment restriction for nuclear weapons, subject to a 5% revenue threshold and verified involvement.
• Aware Super does not have a fund-wide restriction for Russian-domiciled securities, although does not currently invest in Russian-domiciled securities due to Australian Government sanctions on Russia.

Other differences in the fund’s sustainable investment approach include:

• The climate targets differ in scope. TelstraSuper limits its target to listed equities and real assets, while Aware Super’s target applies across the whole fund.
• Aware Super has an international provider that undertakes stewardship activities on their behalf.

To read more about Aware Super’s approach to sustainable investment, refer to the ‘Responsible Ownership’ section of the Aware Super Defined Benefit – Telstra Plan PDS and Guide available at aware.com.au/pds from 30 April 2026, or go to aware.com.au/responsiblesuper

As part of our merger on 30 April 2026 with Aware Super, the insurance provider will change from Nippon Life Insurance Australia and New Zealand Limited ABN 90 000 000 402 AFSL 230694 trading as Acenda (formerly MLC Limited) to Aware Super’s insurer, TAL Life Limited ABN 70 050 109 450 AFSL 237848 . This will be effective from 1 May 2026.

Your Defined Benefit default Death and Total & Permanent Disablement (TPD) cover will remain unchanged on 1 May 2026. There will be no changes to your default insurance premiums, terms and conditions and policy definitions.

From 30 April 2026, voluntary cover will be referred to as additional cover. There are important updates regarding changes to voluntary insurance cover, the applicable insurance premiums and to various insurance terms and conditions, and policy definitions that you should be aware of.

These changes may affect the cover you receive or become eligible to receive on or after 1 May 2026.

Important: From 1 May 2026, any voluntary Death & TPD cover you hold will continue unless you are aged 70 or over as at 30 April 2026. If you are aged 70 or older, your voluntary cover will cease on 30 April 2026, and you won’t receive any voluntary cover with Aware Super. For further details about insurance changes and claims, please refer to your Significant Event Notice.

Full details will be available in the Aware Super Defined Benefit – Telstra Plan PDS and Guide which will be available at aware.com.au/pds from 30 April 2026. It’s important that you read your Significant Event Notice and the PDS to ensure that your new insurance arrangements are right for you. You can also contact Aware Super after the merger to obtain a copy of the relevant insurance policies which will be issued by TAL Life Limited.

Aware Super will confirm your insurance arrangements and any new premiums that may apply in writing in late May 2026.

New insurance premium rates that will apply to voluntary insurance cover from 1 May 2026, can be found in Table 5 – Voluntary Death only and Death and TPD insurance cover premiums in your Significant Event Notice.
Aware Super will confirm your insurance arrangements and new premiums in writing in late May 2026.

There will be no changes to your default insurance cover, premiums, terms and conditions, and policy definitions.

While many insurance terms and conditions and policy definitions will remain the same for voluntary cover, some will change as part of the insurer changing to TAL Life Limited.

You can learn about some of the changes to voluntary insurance from Table 6 – Voluntary Insurance terms, conditions and policy definitions in your Significant Event Notice.

For information on the terms and conditions, and eligibility requirements refer to the Aware Super Defined Benefit – Telstra Plan PDS and Guide which will be available at aware.com.au/pds from 30 April 2026.

Aware Super will continue to apply a 15% rebate on any voluntary insurance premiums. If applicable, the rebate will be credited to your Insurance Premium Account at the end of each month or on exit where you request a full withdrawal of your account.

Your application to apply or increase insurance cover must be received by 17 April 2026. 

If your application is accepted before 30 April 2026, you will receive a confirmation from TelstraSuper and your insurance will be transferred to Aware Super on 1 May 2026, where it will then be provided by TAL Life Limited. 

However, if your application has not been finalised before 30 April 2026, you may need to submit a new application with Aware Super which will be assessed by TAL Life Limited.

After the merger, you'll still be able to apply for new or increased insurance cover in Aware Super if eligible.

From 11 May 2026, Aware Super will start processing all forms, including insurance applications and claims, submitted to Aware Super from 1 May 2026.

If you have a claim in progress or need to make a claim, it’s important to understand how the merger affects your cover and payments. The table in the Claims section of your Significant Event Notice outlines what happens to a claim before and after 30 April 2026.

 For more information on the impact of the merger on insurance disability claims, see section 1.1.1 in the Changes to Insurance Booklet. 

Aware Super does not provide an annual Insurance Statement. However, you’ll be able to view your insurance at any time in Aware Super’s platform, Member Online by running a Defined Benefit Quote.